3AC

Former co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), Kyle Davies, has publicly stated that he harbors no regret regarding the fund’s bankruptcy. What Happened: In an interview on the Unchained Podcast, aired on March 19, Davies said, “Am I sorry for a company...

Genesis won a bid to block its parent company, the Barry Silbert-led Digital Currency Group (DCG), from selling or reducing ownership in the company. What Happened: Until Genesis closes its Chapter 11 proceedings, it can receive certain tax benefits which will be applicable only if the company...

One of the biggest and most renowned auction houses in the world, Sotheby's, has announced intentions to auction off a number of high-profile non-fungible tokens (NFTs) that had belonged to the long-gone cryptocurrency hedge fund Three Arrows Capital (3AC). The Grails collection will serve as...

The collapse of cryptocurrency exchange FTX (CRYPTO: FTT) has not been the biggest concern for investors this year. Recall the de-pegging of Terra’s (CRYPTO: USTC) token and the collapse a few weeks later of Celsius and Three Arrows Capital (3AC) — investors suffered much bigger losses...

Ardana, a DeFi and stablecoin ecosystem building on Cardano (CRYPTO: ADA), halted development on Thursday, citing "funding and project timeline uncertainty." What happened: Ardana Labs said it will keep the project open-source for builders, while “treasury balances and remaining...

Bankrupt cryptocurrency lending firm Voyager Digital Ltd. (OTC: VYGVQ) has sought creditors' approval for its $1.42 billion sale to cryptocurrency exchange FTX, after securing an initial court clearance. U.S. Bankruptcy Judge Michael Wiles said that as...

Electric vehicle company Tesla Inc (NASDAQ: TSLA) purchased $1.5 billion of Bitcoin (CRYPTO: BTC) in January 2021. After two sales, the company now holds less than $250 million of the leading cryptocurrency. Did the timing of a recent sale help lead Bitcoin into a crash? What Happened: Tesla...

In a recent affidavit, it was revealed that cryptocurrency fund Three Arrows Capital (3AC) used its assets to buy a multi-million-dollar yacht. What Happened: Liquidator Russel Crumpler published a 1,157-page affidavit revealing numerous details of 3AC. Documents revealed that 3AC co-founders Su...

Three Arrows Capital (3AC), a cryptocurrency hedge firm that just filed for Chapter 15 bankruptcy in New York, received a $2.36 billion loan from Genesis. It required a margin of more than 80% on its loans to 3AC, and when 3AC failed to meet those criteria, it liquidated collateral. After that...

Crypto hedge fund Three Arrows Capital filed for Chapter 15 bankruptcy protection earlier this month. Since then, the beleaguered fund's legal team has said the whereabouts of its co-founders — Su Zhu and Kyle Davies — are untraceable. Zhu and Davies even missed their...

Bankrupt crypto hedge fund Three Arrows Capital's (3AC) assets have been frozen by the New York bankruptcy court after a ruling from a federal judge on Tuesday. What Happened: Judge Martin Glenn of the Southern District of New York granted an emergency motion to freeze 3AC’...

Binance (CRYPTO: BNB) CEO Changpeng Zhao denies providing hedge fund Three Arrows Capital (3AC) with a large-scale credit line. What Happened: Singapore-based cryptocurrency hedge fund 3AC recently experienced insolvency when it was liquidated by numerous crypto firms after being unable...

Major cryptocurrency players, including Celsius (CRYPTO: CEL), 3AC, and Tether (CRYPTO: USDT), have experienced major liquidations. What Happened: Given the sharp fall in cryptocurrency prices, lending firm Celsius posted a total of 7,206 WBTC (CRYPTO: WBTC) as collateral to reduce its liquidation...